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News Summary: Virgin Atlantic stake boosts Delta
Tuesday - 12/11/2012, 3:57pm EST
(AP) - LIKE A VIRGIN: For $360 million, Delta Air Lines Inc. gets 49 percent of Virgin Atlantic.
MATES: Delta and Virgin Atlantic want to work together to set prices and schedules on their flights between the U.S. and the U.K. American Airlines and British Airways have a similar deal already. It will allow Delta to expand its share of U.S.-London flying.
TRUSTWORTHY? Delta and Virgin Atlantic need approval from antitrust regulators in the U.S. and Europe, although the share purchase itself doesn't need approval. They hope to have the full joint venture running by the end of next year.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)